Health Fidelity, Inc. has closed a Series A financing round led by Charter Life Sciences of Santa Clara, CA. The funds will be used to develop and market its clinical natural language processing (NLP) platform.

Health Fidelity's platform allows healthcare enterprises to extract data from the vast amount of clinical data, including narrative data, which they collect. "As much as 80 percent of medical information stored by healthcare organizations is unstructured and therefore unusable for analytics," said Dan Riskin, M.D., CEO of Health Fidelity. "Our technology transforms the data into usable form. Our Fidelity Platform is a robust, high quality platform in the cloud that is easy to use and quick to integrate with existing applications."

Health Fidelity expects clinical NLP to gain increasing attention as healthcare executives grapple with upcoming requirements for meaningful use of healthcare data, the conversion to ICD-10 coding and the new accountable care organizations (ACO). "The industry must measure and improve the quality of healthcare while controlling costs. Use of previously inaccessible medical data will be critical to these efforts," said Dr. Riskin.

"Natural language processing is a rapidly expanding market and will be vital to enable health systems to address new quality standards," said Fred Schwarzer, Managing Partner at Charter Life Sciences. "With industry leading technology, patents, and team, Health Fidelity is uniquely situated to take advantage of this opportunity."

The Health Fidelity platform is built on one of the most reliable and heavily used clinical NLP engines, which leaves it poised to be a market leader. Earlier this month, Health Fidelity announced an exclusive license to commercialize Columbia University's MedLEE NLP technology in healthcare. With two years of experience developing commercial products with the MedLEE technology, Health Fidelity can move quickly to enable solution partners to get their products to market.

About Charter Life Sciences

Charter Life Sciences ("CLS") is a life sciences venture capital firm with offices in Santa Clara, California and Cincinnati, Ohio. CLS focuses on providing the initial venture capital to companies that are developing innovative products for significant unmet medical needs. The CLS team draws on its extensive medical, operational and start-up company experience to work collaboratively with its portfolio companies to develop their clinical, operational and financing strategies. For additional information on CLS, please visit www.clsvc.com.

About Health Fidelity

Health Fidelity, Inc. (www.healthfidelity.com) offers a clinical natural language processing (NLP) platform that enables medical practitioners and administrators to effectively make use of the wealth of currently unusable medical information they collect. The company works with solutions partners to provide end-user applications built on the robust clinical data our powerful platform extracts. As a result, end-users can make better medical decisions, monitor and improve the quality of care, and enable R&D that will bring us to the next frontier in healthcare.